The crypto software company is understood to allow crypto traders to create algorithm-based strategies to access various markets.
Skybridge Capital founder Anthony Scaramucci is investing in the crypto company founded by the former president of FTX US.

Scaramucci told Bloomberg in an email that he would invest his personal funds to support the new venture of FTX’s former US president Brett Harrison, which was revealed three weeks after the collapse of the FTX crypto exchange.

The crypto software company – as yet unnamed – is understood to allow crypto traders to create algorithm-based strategies to access various centralized and decentralized markets.

Harrison is also understood to be seeking a fundraising goal of $10 million for a $100 million valuation.

In a Jan. 14 tweet, in response to Harrison’s lengthy thread about Sam Bankman-Fried and his time at FTX US, Scaramucci said he was proud to be an investor in Harrison’s new company.

Harrison responded to the tweet by thanking Scaramucci, saying, “Your support and advice means the world to me. I can’t wait to work together!

Advertisement
Want to get 4 winning crypto alerts per week on any market? Click here
However, the amount of capital deployed and the stake received by Scaramucci were not disclosed.

Harrison’s new crypto venture was first hinted at on September 27, when he announced that he was stepping down as president of FTX US.

At the time, he said he was stepping down as chairman but would remain with the exchange in an advisory role for the next few months.

“I can’t wait to share more about what I’m doing next,” he said at the time.

In his latest Twitter thread, Harrison revealed that he left the firm after his relationship with Bankman-Fried soured, and that the issues caused him to focus on his “future and my company.”

RELATED: Skybridge buys back FTX stake as Galaxy CEO says he wants to ‘hit’ SBF

Meanwhile, Scaramucci has high hopes for a recovery in the crypto market this year, describing the market outlook for 2023 as a “recovery year.”

In an interview with CNBC on January 15, the crypto investor said he expects Bitcoin (BTC) to return to the $50,000-$100,000 range in the next two to three years.

“You take a risk, but you also believe in [Bitcoin] adoption. So if we get proper adoption, which I believe we will, it will be a fifty to a hundred thousand dollars in the next two to three years,” he added.

At the time of publication, Bitcoin is currently trading at $21,240, up 21.77% from last week.

Source: CoinTelegraph

LEAVE A REPLY